After all that talk of mega-funding, a palate cleanser — 5-year-old millennial watch startup, MVMT, just sold to Movado Group for $100m without raising a cent of VC cash.
The 40-person team, led by co-founders Jake Kassan (27) and Kramer LaPlante (26), stands to walk with the purchase price, plus up to another $100m based on the company’s future performance.
Which, given, MVMT’s track record, is great news. In just a few years, they’ve managed to expand to over 160 countries, and pulled in $71m in revenue in 2017.
Disclosure: MVMT is an advertiser with The Hustle. This story is not sponsored.
Get the 5-minute roundup you’ll actually read in your inbox
Business and tech news in 5 minutes or less